Stoneridge Investment Partners LLC Decreases Stock Position in Eversource Energy $ES

Key Points

• Stoneridge Investment Partners LLC has reduced its stake in Eversource Energy by 83.9%, now holding 4,522 shares valued at approximately $281,000.
• Other hedge funds, including Vanguard Group Inc. and Wellington Management Group LLP, increased their holdings in Eversource Energy, indicating mixed sentiment among institutional investors.
• Eversource Energy reported $0.96 EPS for the last quarter, slightly exceeding analyst expectations, with a net margin of 6.60% and revenue of $2.84 billion.

Stoneridge Investment Partners LLC lessened its position in shares of Eversource Energy (NYSE:ES - Free Report) by 83.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,522 shares of the utilities provider's stock after selling 23,612 shares during the quarter. Stoneridge Investment Partners LLC's holdings in Eversource Energy were worth $281,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Ballentine Partners LLC grew its stake in Eversource Energy by 4.9% during the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock valued at $369,000 after purchasing an additional 277 shares during the last quarter. Farther Finance Advisors LLC boosted its stake in shares of Eversource Energy by 105.6% in the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after buying an additional 2,374 shares during the last quarter. Golden State Wealth Management LLC boosted its stake in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after buying an additional 580 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Eversource Energy by 14.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock worth $4,124,000 after buying an additional 8,616 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of Eversource Energy by 5.6% in the first quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider's stock worth $866,000 after buying an additional 734 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

ES stock traded up $1.0750 during mid-day trading on Friday, reaching $66.4950. 1,526,442 shares of the company's stock were exchanged, compared to its average volume of 2,022,393. The company has a market cap of $24.68 billion, a price-to-earnings ratio of 28.54, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61. The stock's 50 day moving average is $65.00 and its 200 day moving average is $62.46. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The business's revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Bank of America upped their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.